What Are Fresno CD Rates Paying You?
A study of CD rates in Fresno was recently conducted by Fresno Banking Rates to find out how interest rates on accounts of various terms measure against the rest of the country. Unfortunately, it was found that Fresno CD rates don’t quite match the national average, though the gap between the two is just less than a tenth of a percent.
The rates used in this analysis were compiled from an interest rates database belonging to Fresno Banking Rates, which compiles data from local banks and credit unions within a 50-mile radius of the city. The study compared interest rates for 6, 12 and 24 month certificate of deposit accounts in the city.
The average rate for 6-month CDs is .57% APY, while the average 12-month CD rate is .72% APY and 24-month is 1.07% APY. These all fall under the national averages, which are .60% APY, .86% APY and 1.21% APY, respectively. While these differences are not staggering, they should be of concern to depositors who want to earn the best possible rates in a time when financial institutions are dropping interest offerings.
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